Ratio of Liabilities to Stockholders' Equity and Number of Times Interest Eamed The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Previous Year Accounts payable Current maturities of serial bonds payable Serial bonds payable, 10% Common stock, $1 par value Paid-in capital in excess of par Retained earnings Current Year $489,000 300,000 $132,000 300,000 1,220,000 1,520,000 60,000 80,000 630,000 630,000 2,180,000 1,730,000 The income before income tax was $395,200 and $345,800 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Previous year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Previous year c. The ratio of liabilities to stockholders' equity has from the previous year. These results are the combined result of a the current year compared to the previous year. and the number of times bond interest charges were earned has income before income taxes and interest expense in Previous Next